THE NEW AMERICAN METAL EXCHANGE [To the Editor of the
SPECTATOR.]
Sin.,—The most divergent views have been expressed on the significance of the new American Metal Exchange, which opened last week in New York, to facilitate dealings in tin. Remote as we are here in Cornwall from the centre of the Empire, we still look very closely at events that concern the Empire, and it may be that at times we see them in better perspective than do those who are working in the midst of them.
One aspect of the new Exchange which has struck us here, but which apparently has not been yet fully realized in London, is the fact that by bringing buyers of tin closer together the new Exchange may ultimately have the effect of making possible a conference between them and the pro- ducers and smelters. This, as in the case of copper, might lead to an understanding which would reduce the gambling element in the market, and so lead to a more stable price, on which, more than anything else, Cornwall, at least, the oldest mining centre in the world, depends fol. its salvation.
A may be that the wish is father to the thought, but I cannot help feeling that in this way the new Exchange may have effects far more important to the industry than ever its organizers expected.—I am, Sir, &c.,
HERBERT THOMAS,
• Managing-Director of the Cornish Parade Street, Penzance. Amalgamated Newspapers.
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